The Malta Financial Services Authority on Tuesday issued warnings about LionsRing Trading Ltd, Draconis Investment Limited and Treos Ltd and Treos Malta Ltd.

LionsRing Trading Ltd 

This company, it said, which has an internet presence at https://lionsring.co/ is not licenced or otherwise authorised by the MFSA to provide any investment services or other financial services required to be licenced or otherwise authorised under Maltese law.

Draconis Investment Limited

This entity, which has an internet presence at https://draconisinvestment.com purported to be “an award-winning forex automated trader” and “the world's latest blockchain-powered online business platform”, “providing trading services and financial support for both retail and institutional clients”.

However, it was not licensed or otherwise authorised by the MFSA to provide the service of an exchange or other financial services required to be licensed or otherwise authorised under Maltese law.

The public should, therefore, refrain from undertaking any business or transactions with the above-mentioned entities.

Treos Ltd and Treos Malta Ltd

These companies have an internet presence at https://treos.io/ and https://www.treos.com/, however they are currently offline.

Treos claimed on its websites that it “… is a new global ecosystem-based in Malta that facilitates easy transactions with decentralised money. It connects an online marketplace, a financial institution, networks for eCommerce websites, point-of-sale devices, ATMs and remittance kiosks”, and it also claimed to operate “…in accordance with the recent MFSA regulations”. 

Treos, the MFSA said, is not licensed or otherwise authorised by the MFSA to provide any services related to an exchange or any other financial services which are required to be licensed or otherwise authorised under Maltese law.

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The MFSA reminded consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator.

Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA here. 

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at here as soon as suspicion arises.

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